The market won't stay flat forever; behind the low-volume fluctuations often lies a sickle from the main force. — Key to the block

BNB's performance today resembles a coder burning the midnight oil—wanting to surge but lacking stamina. The 1-hour level just closed at 870.55 (down 1.37%), with the key level of 880 quickly lost after a breakthrough, a typical 'false breakout to lure buyers'. The price is stuck between the middle band (850) and the upper band (890), and the MACD yellow and white lines are hovering below the zero axis, with the red bars getting shorter, resembling 'a cow that hasn't eaten for three days, unable to even nibble on grass'.

Technical analysis dissection

Bollinger Bands: The 'price cage' of the three tracks

The upper boundary of 890 has become a short-term 'pressure line'. The two tests in the early session were pushed back, indicating that the main force does not want to rally now.

The middle track at 850 is a psychological defense line, but if it breaks below, it may trigger panic selling (refer to the scenario of dropping to 820 on August 16).

MACD: Are the bulls 'holding back'?

The yellow and white lines (DIF and DEA) have climbed up from below water, but the red bars are shrinking, like 'loud thunder but little rain'.

The note stating 'attack to new highs' is in the past tense, now we need to observe whether it can form a golden cross above the zero axis (refer to the signals before the sharp rise at the end of July).

Trading volume: The market is 'playing dead'

Current trading volume is 9589, and it hasn't even touched the moving average (15,000), indicating that large funds are watching.

The volume spike in the early session (breaking below 880) is a dangerous signal, possibly indicating the main force is offloading.

Latest news update (key points for today)

Binance Chain ecosystem dynamics: This morning, it was reported that BNB Chain will upgrade its gas fee mechanism (positive news), but the market response was tepid, indicating that investors are more concerned about macro risks.

Bitcoin (BTC) dragging down: BTC is stuck around $55,000, and BNB, as a 'follower', lacks independent market momentum.

Federal Reserve hawkishness: The minutes from the Federal Reserve meeting mentioned 'possibly delaying interest rate cuts', putting pressure on risk assets (negative news).

I believe BNB is currently in a 'chicken rib market'—tasteless to eat, but a pity to discard.

Case Study: At the beginning of August, BNB surged from 840 to 920, driven by a sudden rise in BTC + the Binance IEO boom; neither of these two points exist now.

Case Study: Before the sharp decline at the end of July, MACD also showed a 'top divergence' (new price highs but weakening indicators), which resembles the current low-volume surge.

Short-term traders: Lightly position near 870 for a rebound, set stop-loss at 860 (must exit if broken). If it breaks through 890 with volume, you can chase the rise to see 910.

Long-term holders: Wait to buy in batches below 850, with 800 being strong support (last December's iron bottom), don’t be shaken out by short-term volatility.

Contract holders: The current volatility is too low, making it easy for a 'double kill' on both sides. It is advised to wait and see.

‘The market is like the calm before a storm—either a big bullish candle ignites faith, or a big bearish candle harvests the retail investors. Are you ready to bottom fish, or waiting for right-side signals? Follow Dasheng; tonight's live stream will dissect the main force's wash trading tactics!’

—— Key to the block, your on-chain strategist, the market unfolds rather than being guessed. Likes and shares this week increase win rate by 50% #BNB创新高